My New Blog

This blog is for the folks that own property in the Branson Area Market. We have been talking about a buyer's market for so long you assume it is not going to change.

It has changed and is becoming much more evident as the days go buy. Price ranges from $100,000 to $300,000 for a single family home are limited. When this happens it becomes a seller market and prices are rising. We have clients that purchased homes just 2 to 3 years ago making money when they sell.

We need homes coming on the market in these price ranges. If you are thinking of selling your home this year we need to talk. Don't miss an opportunity to get your home sold before everyone else figures it out. This is the time.

If you have a home in the price range of $300,000 to $500,000 your market is improving too. You just have a little more competition but we are selling them.

The market above $500,000 is still sluggish with a little more interest around the lake. It is going to be a while yet before this market really gets going. These homes are still selling at a discount and may for some time to come. The market will tell us.

We have finally turned the corner and are having fun again. The Branson area market under $200,000 is pretty good for a home well maintained. The bargains are going away and a more secure market is building. We are seeing appreciation in this part of our market. A few more new homes being built but still you can purchase a home for less than it costs to build if you are not too picky.

The market over $200,000 to $300,000 is getting better but has plenty of inventory to put pressure on that price range. There are some bargains.

Over $300,000 is still tough going and a seller gets lucky once and awhile. Way to much inventory up to $600,000. Bargains are there with the seller that needs it sold. It is going to take a while for this range.

Condos are moving with a reasonable inventory since many sellers have taken them off the market. A good future here with local banks getting creative with long term fixed rate in- house loans. We needed that to get this market going.

A growing market with limited supply is nightly rental homes or condos built like a home with 4, 5 and 6 bedrooms. Returns are good and there is no end in sight for this changing any time soon. Our biggest challenge is finding properties approved by governing authorities.

Residential homes for rent are hard to find and makes room for some investors that like real estate.

Commercial leases are picking up and some commercial properties changing hands. We still have some work to do on this market.

I am happy to report financing is getting a little easier as we move into spring. One, the banking institutions and title companies said they would be ready for the new rules in late 2015. They have kept their promise. They did tell us that 30 day closings were a thing of the past and to write contracts for 45 days. I am happy to share I had one deal close in 28 days and another in 30 days from two different lenders and two different title companies. They were conventional loans which are a little easier with generally stronger buyers. I think what we are seeing are lenders moving their time table up and still allowing time for the 3 day disclosure period for buyers. The biggest hurdle I have seen is scheduling appraisers soon enough they get their work done. That did not hold us up.

Two, there are some new financing guidelines for Self Employed buyers that will help make it easier for a self employed person to get a home loan. The loan is based on cash flow through your bank account instead of just 2 years of tax returns.

You will still need a little more time for government backed loans and the 40 to 45 days is probably a good time frame. This type of loan has to be approved by a government agency and the lenders do not have control of how quickly loans get approved.

Three, the mortgage broker is soon to be a thing of the past. You need a mortgage banker or bank for your loans today. I experienced this first hand with a mortgage broker that could not sell the loan to an investor for a client due to a one time 9 month old late payment. It was not that it was not paid. It was just late. We were told they would have to wait a year before reapplying. I contacted another lender and they did the loan in 30 days.

This is an update on the changes that were scheduled for August. The Government backed off the August date and moved it to October 1st, 2015 to allow more time for lenders and title companies to get ready.

What does this mean for you?

I just attended a training seminar to get up to speed myself. The intent of the changes are to protect you from predator lending. It's purpose is to provide you more information in a time frame that gives you time to ask questions and make sure you are comfortable with what you are committing too with your closing and your loan. The lender and title company will be communicating more and earlier before the closing to provide you this information. You will receive the closing information 3 days before closing and the lender will go over it with you at that time. If there are any changes to be made, the 3 days before closing will start over. The lender is accepting more responsibility and liability through this process. Contract to closing time will increase due to this process.

Ultimately, you will be closing the same as before but it will take more days to close.

This will be a learning process for everyone. Some lenders are going to do this better than others. Lenders will be approving title companies and you will not have as many choices as you had before in most cases.

You are still looking for your dream home, getting a loan and closing on your new home. You should expect 40 to 45 days to close initially until we find out how well this works.

The good news is you will be better informed when purchasing a home with a loan.

August 1st new changes are coming for financing residential property and you need to be aware. Most of our local lenders and the title companies are prepared. All of this is being done to protect you from predator lenders and lazy ones. The Dodd Frank Bill has some very good things included for you as a buyer but when the government is involved it becomes complicated and sometimes silly.

I want you to be aware and talk to your lender before you are ready to purchase a home so you understand the process. It is not making it more difficult for you to quality for a loan. It is adding work for your lender and title companies which always means more time to close.

Be aware! I highly recommend you use local lenders in your area and not depend on someone on the internet or someone's best friend. It will take professionals that are very good to make this work smoothly. They can get the same rates and most likely reduce your lending costs.

Take a look at our new mobile friendly website and let me know what you think. The site is quicker and automatically shrinks to your cell phone. We adjusted our site to provide easy access to listings and searches. We have also incorporated a new marketing system which includes 2 emails per month on current real estate topics. Also includes topics on Twitter at Rob Robbins@reagentman, Facebook Business page - RE/MAX Agent Rob Robbins and LinkedIn Site at Rob Robbins. They will have short comments about twice a week.

Winter weather could come at any time in the Branson area. We have had our first frost. The trees are beautiful this fall and the days have a fall like feel to them. We tend to not worry about winter because it is so nice in the fall but that is how we get caught off guard.

You need to get your home ready and this is your reminder.

1. Clean up the leaves so they do not kill out your grass for next spring.

2. Some bushes and plants should be trimmed back. Check with someone smarter than me on which ones those are and how to do it properly.

3. Clean out your gutters.

4. Drain and put away your garden hoses.

5. Buy a Deicer for your sidewalks and driveways. You should always have a bag around incase of times when you must leave home. DO NOT USE SALT! It will destroy the top of your concrete and it is not good for your plants & grass.

6. Make sure all your windows are sealed and closed properly.

7. Check your exterior door seals and replace if needed.

8. Have your furnace checked and serviced by a HVAC professional so it is operating correctly and efficiently.

9. Check your propane tanks and if you use wood have plenty on hand.

10. No wood piles next to the home. Termites love wood piles.

11. Do you have a good show shovel?

12. Remember if the roads are slick you can often wait a couple of hours and they will be melted off.

The dog days of summer will be ending soon. The kids will be going back to school and life will be normal again.

Our market like many others has been a little slower than we would like and that means it is a buyer's market. We have good inventory and most properties priced well. They are looking for a new owner. Sellers are not wanting to hear that but if their property is on the market they want to sell it.

Buyers, this spring our market was changing to a seller's market under $200,000 and it was hard for the buyers to accept. Some were disappointed! Over the last 50 days that has changed somewhat and there is opportunity to get a good deal. August is usually slow as families are on vacation or getting ready for school to start. If you are a buyer it is time to get after it before sellers get optimistic about the fall market.

I have noticed that we have some buyers and sellers discouraged by the new finance rules we are living by today but wanted to cheer you up a bit.

We have local lenders making some changes in loans and creating new loans to fit specific needs. I will not name them here but if you want some guidance I would be glad to share them with you.

Some local banks have made strategic decisions in their loan lending which will benefit many of us. They have increased their residential in house loan commitments which means they are willing to carry the loan locally and that gives them some flexibility in still meeting the new banking regulations. If you or your loan will not fit the traditional secondary market they may have a solution that will not cost you an arm and a leg. The examples I have seen were competitive on interest rates and most have low loan origination costs.

Condo sales and prices have been dramatically impacted by the new regulations. We have several local banks that will finance these in house and we have another lender that has went to great lengths to know which condo complexes will fit the secondary market. That number is higher than you might think.

All in all we have a lot of choices when it comes to financing and you or your property may very well qualify for them.

This is going to be a short message but an important one. Spring is here and we all get busy doing a lot of things other than taking care of our home. Several of you have spring cleaning projects and landscaping dreams. Reality hits when you go out to clean up the yard for that first mowing.

It is no different for your home. -Crawl space vents need to be opened and make sure nothing is blocking the vent.-Make sure the screens on the vents do not have holes in them.-Creepy but you should go under your home to make sure there are no leaks or rain water coming in.-Gutters need cleaned. This is the rainy season.-Gutters should divert water away from your home.-Soil or flower beds should slope away from your foundation.-Window screens may need repaired-Basements - check all those corners you do not see every day to make sure there is no moisture getting in or mildew from poor ventilation such as basement closets & storage areas.-Make sure your water softener is working so you are not wasting electricity and salt.-If you know there are termites on your property you should have your home inspected once a year.-Trim bushes and tree limbs away from your home. Much easier now then when they have had the summer to grow.-Landscaping really makes a home look nice. Keep all plants away from your siding and do not get dirt up to your siding.-Mowing your yard is important to keep critters out of your home.

That should keep you busy the rest of the spring. Have fun and enjoy your home.